Selected balance sheet accounts for I ibbetts Company on September 30, 2022, are as tollows: Required: a. Calculate the working capital, current ratio, and acid-test ratio for Tibbetts Company as of September 30,2022. b. Summarlzed here are the transactlons/events that took place during the fiscal year ended September 30 , 2023. Prepare journal entries for the below transactions and indicate the effect of each item on Tibbefts Company's working capital, current ratio. and acid-test rato. Use - for increase - for decrease, and (NF) for no effect 1. Credit sales for the year amounted to $264,000. The cost of goods sold was $171,600. 2. Collected accounts receivable, $277,200 3. Purchased Irwentory on account, $184,800. 4. Issued 550 shares of common stock for $20 per share. 5. Wrote off $7700 of uncollectible accounts using the allowence for bad debts 6. Declared and pald a cash dlvidend, $22,000. 7. Sold marketable securities costing $28,600 for $34,100 in cash. 8. Recorded insurance expense for the year, $13,200. The premium for the policy was paid in June 2022. 9. Borrowed cash on a short-term bank loan, $11,000. 10. Repaid principal of $44,000 and interest of $3,300 on a long-term benk loan